Italy: Business confidence drops in October
October 28, 2013
In October, the National Institute for Statistics (Istat) composite business confidence indicator (IESE, Istat Economic Sentiment Indicator) - which covers the manufacturing, construction, service and retail sectors - fell to 79.3 points, down from the revised 82.8 points recorded in September (previously reported: 83.3 points). The print marks the lowest reading in four months.
The deterioration was driven by weaker readings in the services and retail sectors, although manufacturing and construction improved compared to the previous month.
Panelists expect fixed investment to contract 3.6% in 2013, which is up 0.1 percentage points from last month's forecast. For 2014, panelists see fixed investment growing 0.7%.
Author: Armando Ciccarelli, Head of Data Solutions